Please beware of fraudulent / scam text messages, emails or phone calls regarding your debit card or bank account. Always call the bank at 815-264-3201 or our debit card provider Shazam at 866-508-2693 to confirm.

Waterman Bank

Certificates of
Deposit (CDs)

Competitive Rates

Get more for your money and enjoy the safety of FDIC insurance.

Guaranteed Return

Select the term that's right for you, and your money will grow at a fixed rate over the term of your CD.

24/7 Online Banking

With 24/7 online and mobile banking you can monitor your account whenever it is convenient for you.

CD Options

Choose the best term for your needs.

5.35% APY*

8 Months

5.01% APY*

13 Months

4.25% APY*

19 Months

Your CD accounts at Waterman Bank are insured by the FDIC up to the maximum amount allowed by law.

If you need help, stop by one of our locations or give us a call. We will be happy to answer your questions.

New Account Opening Process

Step 1
Gather your documentation
Step 2
Complete an application
Step 3
Personalized Service Call

Learn more about our process to open a new account at Waterman.

A Full-service bank at your fingertips.

Bank from Anywhere with Waterman Bank Mobile

  • Mobile Deposit
  • View Account History
  • Transfer Between Accounts
  • Set Account Alerts
  • Security and Convenience

Learn more about our
Waterman Bank Mobile App here.

Frequently Asked Questions

With a certificate of deposit CD account your money is placed in the account for a set amount of time, called a term. In exchange for leaving your money in the CD you’ll earn a fixed interest rate on your money unlike a traditional savings account where the rate is variable and subject to change.

You can withdraw your money early, but keep in mind that there may be a penalty if you withdraw your CD principal amount before the maturity date. The early withdrawal penalty depends on the term of the CD.

Yes, you can add POD (Payable-On-Death) beneficiaries to your account.

Yes. Your accounts at Waterman Bank are insured by the FDIC up to the maximum amount allowed by law.

There is no minimum balance to open a CD. Deposit what works best for you.

Once your CD matures, you have a 10-day window called a grace period where you have three choices: 

  1. Withdraw your money. 
  2. Allow your CD to renew.

If you do not withdraw your money, Waterman Bank will automatically renew your CD, although it may be at a different rate and term than the original account. Please see full terms and conditions for details.

Waterman Bank is here to help.

At Waterman we believe in serving everyone in our communities. We work to understand your needs and find the right solutions to meet them. Whether your goals are big or small, we are only a phone call or email away.

*APY – Annual Percentage Yield is accurate as of 9/22/2023 and is subject to change without notice. Fees may reduce the earnings on the account. A penalty may be imposed for early withdrawal from a certificate of deposit. At the end of the term, the 8, 13 and 19 month CD will automatically convert to the standard 12 month CD term and will have the same rate and other features applicable to the 12 month CD.